The beginning inventory for Midnight Supplies and data on purchases and sales for a three month period are as follows:

Haaki Shop Inc. is a large retailer of surfboards. The company assembled the information shown below for the quarter ended May 31:

Required:

1. Prepare a traditional income statement for the quarter ended May 31.

2. Prepare a contribution format income statement for the quarter ended May 31.

3. What was the contribution toward fixed expenses and profits for each surfboard sold during the quarter?

Haaki Shop Inc. is a large retailer of surfboards. The company assembled the information shown below for the quarter ended May 31:

                                                                                     Amount

Total sales revenue                                            $800,000

Selling price per surfboard                                           400

Variable selling expense per surfboard                          50

Variable administrative expense per surfboard                      20

Total fixed selling expense                                  150,000

Total fixed administrative expense                      120,000

Merchandise inventory, beginning balance              80,000

Merchandise inventory, ending balance              100,000

Merchandise purchases                                     320,000

1. Prepare a traditional income statement for the quarter ended May 31.

2. Prepare a contribution format income statement for the quarter ended May 31.

3. What is the contribution toward fixed expenses and profits for each surfboard sold during the quarter? (State this figure in a single dollar amount per surfboard).

Haaki Shop Inc. is a large retailer of surfboards. The company assembled the information shown below for the quarter ended May 31:

Required:

1. Prepare a traditional income statement for the quarter ended May 31.

2. Prepare a contribution format income statement for the quarter ended May 31.

3. What was the contribution toward fixed expenses and profits for each surfboard sold during the quarter?

A quarter circle of radius 100 mm lies on Quadrant II of a coordinate plane with
reference radius at the origin. A rectangle is attached to the quarter circle at Quadrant I
with base at the x-axis of width equal to 25 mm and height same as the radius of the
quarter circle. Another rectangle with inverse dimension as the previous is attached to the
quarter circle at Quadrant III.
a. What is the moment of inertia (m4) of the composite area with respect to the x-axis at point O?
b. What is the moment of inertia (m4) of the composite area with respect to the y-axis at point O?
c. What is the polar moment of inertia (m4) of the composite area?
d. What is the centroidal moment of inertia (m4) of the composite area?
e. What is the radius of gyration (mm) of the composite area with respect to its
centroid?

Anthony Bucker, the CEO of Bucker’s, Inc. is currently reviewing a proposal to purchase a set of equipment that would add a unique candle holder, what is known as “Angel Chimes”, to the company’s production line. Bucker’s, Inc. has been manufacturing galvanize-coated buckets, pans, watering cans, flower pots & vases, and various sizes of trash-cans for home and garden use for the past 25 years. With this new addition to its product line, Bucker’s, Inc. would penetrate further into decorative home-goods markets.

Angel Chimes is a unique, brass-made candle-holder. It was originally introduced in Sweden and has become a popular Christmas product in the entire Europe. It makes a delightful Christmas gift that could be enjoyed by all ages as part of joyous memories.   The heat from the four candles spins a carousel of angels causing them to lightly tap the bells generating charming tinkling sounds. Celine Barber, the marketing manager at Bucker’s, believes that Angel Chimes could be sold for $6 each and a volume of 10,000 units could be reached within its first year of inception.

The semi-automated machine to be used in the production of Angel Chimes can be purchased for $170,000, but it requires $30,000 additional spending on delivery and installation. The cost of the material is estimated to be 40% while labor and overhead expenses will run around 12% of the sales price. The annual sales figure is estimated to grow at 5% per year. The equipment is expected to worn-out totally in ten years and can be sold for $20,000 only. For tax purposes, the equipment qualifies for Five-Year MACRS property (the appropriate percentages are provided in the following table):

Anthony finds the Angel Chimes project quite attractive at first glance; however, he is cautious in implementing any capital budgeting proposal that could be detrimental to his company and its common stocks. As such, he asks you to run an assessment of Angel Chimes project via most reliable decision criteria, i.e., NPV and IRR. Currently Bucker’s WACC to apply to an average risk project is 14% and the company is subject to a marginal tax rate of 34%.

(a) Compute the NPV and IRR of the above proposal assuming a 34% tax rate. What is your recommendation to Mr. Bucker?

Anthony Bucker, while a college dropout (mainly due to financial challenges his parents and himself had to face during the first two semesters of his college years) proved to be a wise and successful businessman during his 25 years of practice in the industry. With his exceptional vision on decorative home-goods design and production, Anthony was quick to recognize that this new equipment could be utilized to introduce various additional and equally attractive tinkling candle-holders with different concepts and figures. This, however, would require the acquisition of an additional pressing machine for $30,000 to produce the new figures and characters. This piece of equipment, if purchased, will also qualify for Five-Year MACRS property and will be sold for $5,000 at the end of 10 years.

Anthony doesn’t anticipate any cannibalization affect since these additional candle-holders will be in demand all year around while Angel Chimes are proven to be a unique Christmas-season item.   Celine’s analyses in this regard indicates that Bucker’s Inc. should be able to sell 7,500 units of these additional candle holders in the first year at $5 each. For the following years, the sales are estimated to grow at 5% per year. The cost of the material will be 40% while labor and overhead expenses will be negligible since the additional production can be accomplished without any over-time expectations from the workers.

b.) Compute the NPV and IRR of the Angle Chimes proposal together with this additional modification/investment. What is your recommendation to Mr. Bucker when two compatible proposals are considered/evaluated together?

Sidneyland is a popular theme park in Southern California that is now planning for its eventual re-opening after closing during Covid-19. In years past, New Years Eve was the single largest day of revenue earned by the park due to the high sales volume of NYE themed merchandise. However, this year it is uncertain if Sidneyland will even be opened on New Years Eve, and the time to order the 2021 apparel is approaching. The first purchase deadline is at the end of October, at which point Sidneyland can either buy the goods in full for​$100,000 or defer the decision until the end of November. At the end of November, the rush order price rises to​$150,000​. There is ​no cost nor profit if no purchase is made​. Sidneyland’s public health and data science consultants estimate that there is a​40% chance that the local Covid-19 situation improves from the end of October to the end of November, a​60% ​chance that it stays in the current most restrictive tier. If it improves, the experts predict a​90% ​chance the park is open on NYE, compared to a ​30%​ chance if it stays in the current most restrictive tier. Assuming that all goods sell for ​$200,000 if the park is open on NYE but are otherwise unsellable, answer the following questions about Sidneyland’s purchasing strategy if their goal is to maximize expected merchandise profit.

A) What are all of the different times to make a decision, and what decisions can be made at those times? ​

B) Supposing that Sidneyland defers and waits to make a decision at the end of November and supposing further that the public health scenario improves from October to November, what strategy should they take and what is the resulting expected earnings (or losses)?

C) Using the projections from the end of October, what are the expected merchandise earnings (or losses) if Sidneyland elects to defer the decision from October to November? ​

D) Using the projections from the end of October, what are the expected merchandise earnings (or losses) if Sidneyland buys the merchandise at the end of October?

E) What decision should Sidneyland make at the end of October? Explain.

Gladstone Company tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31.

Assuming that for Specific identification method (item 1d) the March 14 sale was selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30. Assume that the sale of August 31 was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1.

Required:

1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at December 31 under each of the following inventory costing methods: (Round intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) Their is no more information than what is in this question.
2. last in first out; ending inventory and cost of goods sold
3. first in last out; ending inventory and cost of goods sold
4. specific identification; ending inventory and cost of goods sold

Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick. The hockey stick sells for $130 and had transactions as follows:

1. Mar 1st beginning inventory 5 units at $30 per unit
2. Mar 3rd sold 3 units
3. Mar 6th purchased inventory 30 units at $40 per unit
4. Mar 17th sold 20 units
5. Mar 23rd purchased inventory 25 units at $50 per unit
6. Mar 31st sold 30 units

Required: Use the information above to answer the questions below for First In First Out (FIFO) and Moving Weighted Average (MWA) inventory costing methods.  

ROUND ALL ANSWERS TO 2 DECIMAL PLACES

What is the Cost of Goods Sold for the Mar 3rd sale under FIFO inventory costing?

What is the Cost of Goods Sold for the Mar 17th sale under FIFO inventory costing?

What is the Cost of Goods Sold for the Mar 31st sale under FIFO inventory costing?

What is the ending inventory on Mar 31st under the FIFO inventory costing?

What is the Cost of Goods Sold for the Mar 17th sale under MWA inventory costing?

What is the Cost of Goods Sold for the Mar 31st sale under MWA inventory costing?

What is the ending inventory on Mar 31st under the MWA inventory costing?

What is the Gross Profit for the month of March under the MWA inventory costing?

CAN YOU PLEASE PROVIDE ME JUST THE NUMBERS IN EVERY QUESTION